70 Smart revenue generators - an moneysavers - Innovation - Cover Story

University Business, Dec, 2003 by Katherine Grayson

59. Focus on a niche with a fresh positioning plan. With Drexel University's (PA) intensive focus on technology strength--and an aggressive positioning plan driven by its president, Constantine Papadakis--in five years freshman applications tripled, full-time undergrad enrollment doubled, research funding doubled, and endowments tripled.

INCREASING ENROLLMENT FOR ADDED $$

60. Project Second Chance. Via a database-reporting program, the University of Detroit-Mercy identified which dropouts were good candidates to re-enroll and pay outstanding balances. Staffers sent letters and phoned 2,200 former students. Three hundred re-enrolled or worked out payment plans, generating almost $1 million, good will--and newly motivated students.

61. Use incentives for enrollment. At the University of Missouri-Kansas City, incentives are offered to units for enrollment increases. The school's internal slogan is: "Enrollment is everyone's business."

62. Don't keep merit awards a secret. At Wilkes University (PA), a "scholarship calculator" on the school Web site allows potential applicants to enter their academic information and immediately receive a response regarding the amount of a merit award, so that they have a better understanding of their true, reduced tuition costs. (Note: Schools doing this should make sure to state--in bold letters--that the scholarship guarantee isn't the only aid available, that need-based aid is also possible once forms have been submitted.)

USING COMMUNICATIONS TECHNOLOGY TO FREE UP DOLLARS

63. Use united communications software to revamp communications offerings and create new revenue sources as traditional ones--Like providing long distance services-dry up. Grow revenue for new student services that go beyond voicemail: for example, "follow-me" access, schedule management, advanced rules capability for cart handling, etc.

64. Find bargain-rate resources. Many schools, seeing advanced telecommunications as a competitive edge in higher ed marketplace, are buying up thousands of mites of fiber-optic cables on the cheap. (When these kinds of assets go on sale, especially when telecom companies fold, it's Literally pennies on the dollar, say analysts.) Brigham Young University (UT) is also purchasing bulk long-distance calling circuits from Verizon, instead of paying to lease Long-distance packets from local exchange carriers. The school's telecom costs are a fraction of what they would have been, without sacrificing any functionality. Northern Illinois University is working with Verizon Wireless to purchase discounted cellular minutes in bulk, offering them to incoming students for slightly Lower-than-market rates, with the school realizing the profit. The school's strategy is also to eventually replace hard-wired phones in the rooms, and the incumbent costs (NIU recently secured a portable cell tower with back-end equipment form Cisco and Nortel). National-Louis University (IL) teamed with neighboring schools to increase purchasing power and get discounts on Local exchange carriers. EDUCAUSE (www.educause.edu) and ACUTA (the Association for Communication Technology Professionals In Higher Ed; www.acuta.org) can help schools locate other schools seeking purchasing partners. Visit their Web sites for details.